Guideline Value for KGL Nagar (Ward-30)

KGL Nagar (Ward-30) guideline value

The current guideline value of KGL Nagar (Ward-30) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of KGL Nagar (Ward-30) has changed

The guideline value for KGL Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision has further increased it to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

From 2017 to 2023, the value rose by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been an 8% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that KGL Nagar's 2024 figure is below that median.

• Kilbarns Nagar: Rs 1,600 per sq.ft (2024)
• Kilbarns Nagar Extension: Rs 1,600 per sq.ft (2024)
• Kilburn Nagar Roads (Ward No.11): Rs 1,600 per sq.ft (2024)
• Kilburn Nagar (Ward-11): Rs 1,600 per sq.ft (2024)
• Kesava Perumal Avenue, Sarathy Nagar (Ward-26): Rs 1,300 per sq.ft (2024)
• Kesavan Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in KGL Nagar (Ward-30)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers KGL Nagar (Ward-30)?

The Sub Registrar Office that covers KGL Nagar (Ward-30) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madhavaram

The guideline value plays a crucial role during the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of KGL Nagar (Ward-30)?

The current guideline value of KGL Nagar (Ward-30) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the registration office for KGL Nagar (Ward-30)?

The registration office for KGL Nagar (Ward-30) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in KGL Nagar?

Stamp duty in KGL Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 13,00,000, the stamp duty would be Rs 91,000.

What are the guideline values of other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values. For instance, Kilbarns Nagar and its extension are valued at Rs 1,600 per sq.ft, while Kesava Perumal Avenue, Sarathy Nagar, and Kesavan Nagar are valued at Rs 1,300 per sq.ft.